STOKES SECURES TWO SEATS ON WA NEWSPAPER HOLDINGS BOARD

Things are about to get interesting at WA Newspaper Holdings with the announcement that Seven Network Executive Chairman Kerry Stokes and board member Peter Gammell have finally secured places on the WAN board after a long-running battle.

Seven Network is WAN’s largest shareholder, with a 22.4% stake in the company. The WAN board will be increased in size from six to eight directors to accommodate them.

WAN chairman Peter Mansell said Seven was always going to be represented on the board, the question was on what terms.

“They have 25% of the company, so they can have 25% of the board”.

The move is bound to make for some lively meetings at WAN. Stokes is no ‘shrinking violet’ and has been a vocal critic of the current WAN board and performance of The West Australian in the last couple of years.

However, we’ll have to wait and see whether having two seats at the table will be enough for him to effect any significant changes.